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Location: Menlo Park, US West

Firm Rating:

Firm Information:

Type: Large Private VC

FIRM DESCRIPTION: InterWest Partners (www.interwest.com), founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. Currently investing its ninth fund (IW IX), a $600 million fund, InterWest has raised more than $2 billion of capital since inception. InterWest has fifteen investing partners in Menlo Park, CA and Dallas, TX, who bring together deep domain knowledge in life sciences and information technology.

Interwest has great history and heritage in Texas, but seems to have lost its interest in the hunt for great Texas deals. Unlike Silicon Valley, where VC's don't ever have to hunt for a great deal, in Texas you have to hunt. Hunt hard. But I guess we all should keep trying them. The firm has money, and retains a good reputation.

I had the opportunity to work with Doug Pepper recently. Not only was Doug responsive and provided great advice. He was truly interested in helping and developing long term relationships. I highly recommend Doug for Software and Digital Media deals.

Posted by
harrc
on 2008-02-15

PUBLIC:

We met with Victor Westerlind early in our fundraising cycle. Although InterWest did not decide to invest, Victor has continued to help and support us. He guided us efficiently through the process and was very open with his feedback. I would readily work with him in the future.

Posted by
raisin-a-round
on 2007-09-11

PUBLIC:

The guys are the real deal when it come to operating experience. The best part of this firm is that there are no Associates (wet behind the ear kids). Ron Nash, Bruce Cleveleand and Doug Pepper all have had significant operating roles. They were extremely professional with us and told us teh process - and stuck to it and followed it all teh way through. The discussions with them are about products and markets and revenue generation challenges/opportunities. They have very STRONG networks and get to work quickly in due diligence (75% of the time doing market due diligence). If you need real world experience with new market creation and domination experience at your board, go with these guys .

Posted by
drbiofixit
on 2007-08-26

PUBLIC:

I have had several meetings with Nina over the years and have developed a respect for her insightful questions, her feedback and candor in terms of next steps, and honesty for the reasons behind decisions when it was not to proceed.

Posted by
gtauss
on 2007-08-13

PUBLIC:

Worked with Flip in 2 companies. He is smart, practical, and understands business. He is the only VC I have ever met who really understands the sales process, channels, distribution, and the tactics of partnering.

Posted by
NorCalGuy
on 2007-07-21

Posted by
nowires
on 2007-06-07

PUBLIC:

I am a serial entrepreneur and have had the opportunity to work with many VCs on Sand Hill and otherwise. InterWest is by far the best - both prefunding and postfunding. They take a practical and judiciously hands-on/hands-off approach and really help you build the business any which way they can. Clean term-sheets, good business logic and strategic/big-picture thinkers. It is a pleasure working with Flip Gianos, Doug Pepper, Mike Boich, et al.

InterWest funded my company, and overall I'm very happy with the experience. They moved quickly, and were fair to deal with at ever stage. If there is anything I don't like, it is that I don't feel they are very effective at providing much networking among the partners there -- I find it hard to draw upon the collective experience of the partnership.

Doug Pepper is strong. He dedicated a lot of time to us during due diligence and, most importantly, was willing to learn with us through the process. Really solid and would heartily recommend Doug to others.

As a relative newcomer to the startup CEO role, it was extremely helpful that InterWest delivered more than just financing. They have driven real operational value for us by tapping into executive networks and providing critical introductions. If you're building a SaaS business and looking for a true financing partner, you must talk to these guys.